WATERTOWN, Mass., Aug. 20, 2020 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ: KYMR), a biopharmaceutical company focused on discovering and developing novel small molecule therapeutics that selectively degrade disease-causing proteins by harnessing the body’s own natural protein degradation system, today announced the pricing of its upsized initial public offering of 8,684,800 common shares at a public offering price of $20.00 per share. All of the shares are being offered by Kymera. The gross proceeds of the offering, before deducting underwriting discounts and commissions, and other offering expenses payable by Kymera, are expected to be approximately $173.7 million. Kymera has granted the underwriters a 30-day option to purchase up to an additional 1,302,720 common shares at the initial public offering price.

The shares are expected to begin trading on the Nasdaq Global Market on August 21, 2020 under the ticker symbol “KYMR.” The offering is expected to close on August 25, 2020, subject to the satisfaction of customary closing conditions.

Morgan Stanley, BofA Securities, Cowen, and Guggenheim Securities, are acting as joint book-running managers for the offering.

About Kymera

Kymera Therapeutics is a biopharmaceutical company focused on advancing the field of targeted protein degradation by accessing the body’s innate protein recycling machinery to degrade dysregulated, disease-causing proteins to address previously intractable disease targets.